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on policy and the federal reserve. >>> is the worst behind us? a growing number of the nation's top forecasters says the economy has already bottomed. today's market decision, the fed decision, trade data, a majority treasury auction and weekly mortgage applications. crude inventories, earnings from major retailers and much, much more as "squawk box" begins right now. >> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and carl quintanilla. the fed is set to wrap up a two-day meeting this afternoon. it has a policy statement that's expected at 2:15 eastern time. the central bank is widely expected to keep rates on hold for now even though a growing course of directors is looking for the fed to upgrade its comments on the economy. different economists say we could be nearing tend of a recession. the fed is expected to announce a program to buy $300 trillion in treasuries will come to an end in september. >>> a new survey of the nation's economists find ben bernanke should be reappointed to a new term as federal reserve chairman. mea
morning, obviously, ann thompson of cnbc in hyannis port bringing us the news. john harwood is our chief washington correspondent and joins us in d.c. today. john, people are going to immediately turn, at least in the business world, to try and answer questions about what this means for the liberal agenda, business policy going forward. do you see any effects in the short to medium term? >> i doubt it, carl. you know, ted kennedy is, as that statement from barack obama said, the foremost legislator of this time. his career had incredible impact for decades. his family had an even greater impact for an even longer period of time. he's one of 60 votes in the senate. there are many like-minded senators. there are strong committee chairs trying to move health legislation and i think democrats will try to use the emotie emotional bounce and umph from this moment and the grief people are feeling to try to propel this initiative forward. but i don't see a very, very large impact in the short-term or the medium term. democrats are going to end up with another senator from massachusetts, whenever
oil out of -- >> $72 is still a good number. it used to be in the u.s. they wouldn't do anything. >> talking about oil prices? >> yeah for $48 or $46 was a cutoff point. and 72 now, people really i thought underestimated the oil field companies, first of all their book was booked up for a long way out for higher oil prices. some of it comes off and leaves a formidable book and $72 for a lot of these projects is still very, very -- >> you covered oil for a long time. >> jack of all trades. well, there's a whole pile of stuff to talk about on economic front today. the new survey of the forecaster says the united states doesn't need a second fiscal similar lus package but instead should cap government spending over the next two years. the semiannual poll by the business economic finds most surveys were worried about the outlook for the government's budget. now, we will actually get the full story in the next half hour here on the show. we're going to be joined by chris varvares. >>> let's talk more about the federal reserve. the federal reserve reportedly making about $14 billion o
on the train? >> he did a lot of stuff for us. and the guy in front of us gave him -- i didn't know you should do that. i never tipped a flight attendant or anything. >> they did take pretty good care of him. >> yeah, they did. i'm writing it off. >>> posting better than expected earnings and revenue, whole foods, traffic was up as was the size of the average transaction in its stores. whole foods says it's not ready to proclaim a recovery or victory, but notes that it's seeing customers have a tendency to trade down and that is slowing. we may see that in proctor & gamble today. that's when everyone is talking about with p&g's reports, which will show a fairly significant decline in revenue, which you never thought would happen in p&g. >> at a time after lastly wanted to goose the premium market, right? >> things like tide. people aren't paying the extra. >> head long into the global slowdown. >> and we were talking about a xp last week. the trading down is easier to do on paper products, which p&g is heavily leveraged to, as opposed to colgate which is more leveraged to toothpaste and soaps.
clues on the u.s. employment picture and the overall economic growth. as for the markets this hour, europe starting the day in the black and u.s. equities are looking mixed as "squawk box" begins right now. >> good thursday morning. welcome to "squawk box" here on cnbc. i'm carl quintanilla along with mandy drury~ becky quick and joe kernen are out this morning. jim paulson and richard bernstein will be with us today. when we say we will probably like you to come in at 6:00 a.m., b it's probably like, excuse me? but it's great to have you guys with us today. we've got jobless claim at 8:30, economists looking for claims to drop by about 1,000 to 565. also at 8:30, revised second quarter gdp to negative 1.5 from the first reading of negative 1%. also, natural gas inventories, a treasury auction at seven-year notes. >>> the equifdiv voted 4 to 1 t ease tremendous restrictions from 10% from a prior proposal. meantime, this morning, the fdic's coffers are depleted. today, the fdic will disclose how much is left in its insurance fund and offer an update on the number of its banks on lis
guarding the day is strong. u.s. equity futures. will you do it? thanks, mac. there it is. at "squawk box" begins right now. nice work. >> good morning, everybody. welcome to "squawk box" right here on cnbc. i'm becky quick along with joe kernen. carl is out today. we have a few major economic releases on the agenda today. we're going to be starting at 8:30 eastern time with july's consumer price index. yes, that's right, the cpi is coming out today. and economists are looking for the headline number on cpi to be unchanged. the core component is seen ticking higher by 0.1%. people are going to be watching this closely, though, to see where inflation stands along the way. coming up at 9:15, we're got industrial production. and then at 9:55, consumer sentiment. so plenty of numbers for these markets to chew over as we head into the weekend. >> biggest number may be tiger, but we'll talk about these government things, too. we've got the pga president coming on later today to talk about the longest course in history, in the hour of a major long, almost 7,700. tim geithner sees good signs in t
from china that the sovereign wealth fund buying up to $2 billion of u.s. mortgages, a sign that the housing market may have bottomed out in the u.s. hong kong bore the brunt of the slump. china led the losses. the indian market down 4%. becky, i'm sending it back to you. >> christine tan standing by for us in asia. let's get to the u.s. markets. david restler is the chief economist and the chief strategist at d.a. strategies. do you chalk this up to the idea we have run so far so fast? >> we've had a big rally coming off the market in the march lows. i think expectations have gotten a little bit ahead of the reality as to where spending will be post stimulus. normally fairly difficult months, especially during years that the markets had a big spring. a little bit of both. we were looking for the market to have maybe a 3, 4, 5% pullback. we're getting that now. we've noticed that the asian markets starting a slowdown ten days ago. the trader will want profits. all in all, late summer activity. >> fred, you you wouldn't necessarily be counseling people as they watch this to m
put us back to pre-lehman. seeing the highs, we're at 1007. the highs for the year sirnl doesn't mean 1,200. >> although yesterday in our hedge fund summit, lee cooper one one of the guests that came on and said there's a one in  four chance that we end up back at the lows. >> and cass is ersign, he says. >> bearish. >> ersign is bearish. the constellation. >> ersa major. >> what is erk sign? >> eshgel, i don't know -- >> what is it when you're like a musk rat? >> like a musk rat. >> yeah, what is that? >> i don't know. i know about muskrat love, but that's the only thing i'm familiar with. john, if you were fast, you would have a little muskrat love ready to go. >> ♪ . >> that was fast. i know how lame this song is, but that was fast. people are sure that that was planned. >> meantime, traders will be following the treasury's auction of $37 billion in three-year notes today. it's a big week for the bond markets. a record $75 billion in tet sales. there's an article in today's fc suggesting that some traders would not be surprised to see the yield on the ten-year test 4% ahead of t
300 near session highs. european stock markets as we start to add the u.s. open up 1.2% pretty much across the board. no surprise. commodities, banks are firmer. we've got higher base metal prices and crude prices, as well. which is why oil and gas and resources are doing fairly well, as well. you were talking about ubs. good demand for the stakes sale from the government so the stock up 4% at the moment. we heard from rio tinto today, as well. it was in line with market forecasts and said it was confident about the future after what's been a pretty tough 18 months. so demand for rio shares today along with the wider market, as well. 50% of whose profits come out of the united states, this company has been going through a deep restructuring before the global recession hit and today their operating profit was above forecasts. we saw revenues down in july. basically cost cutting has helped their margins there. that's the news out of europe. let's get over to asia. >> hey, ross, once again, track can stock market movements in china. the shanghai composite rallying 4.5% on reports that
. >> it used to bother you. but there came a time when you decided you liked it. >> because i love god ever since november of last year. >> i love gold! >> i love gold. >> i love gold! >> i'm wearing a gold shirt because i think you better buy some hard aspects. we have the prospector, walter -- >> yeah, because currencies are in trouble. >> yeah. >> because of monetary medicine, perhaps? >> as we europeanize the u.s., that's going hurt the dollar, yeah, as we make a social net just as large as what causes slow growth in europe, i figure we're going to need some gold. >> do you ever see a big difference in their gdp and ours? >> yeah. when they boom over there, it's 0.7%. >> we would take 0.7%. >> we're down for a little while. we have enough loep to hang ourselves over there. >> he's right behind you, by the way. >> would is? >> the prospector. >> oh, my god. the greatest thing about that is they said, we have an idea. leave your teeth out for this role. that is on -- that is true. leave your teeth out for this role. >> his son talked his dad into leaving his teeth out. >> the director, ye
've initiated in terms of cultural change. for us, the moves on the company are on cost savings. and that could be long lasting, that when the top line recovers, the team inside the corporation is focused on saving costs -- >> can i read this? mr. chambers said he would soon sdpand the number owes bess that he's starlthing is 50. the people who participate, senior people -- >> making them they'll like they're part of the process. >> that's 3,000 potential successors can be gain. >> what? a lot of people blame him when things go wrong. >> so none of these businesses at this point generate more than $ billion. where is the real -- where is the future for cisco at this point? tv? >> well, i think if we step back, tv is a nice way to phrase it. but we need to think about tv in a broader sense. think about video and don't think about tv sitting at home and turning on the tv to watch what's being broadcast. think about the way you are searching for your video content, your entertainment. now think about video from a business perspective that you're getting your job done using video, that you're not g
rates on mortgages by buying u.s. treasuries. carl, this will be something we're watching closely after what we heard from the bank of england last week on quantitative easing. >> why would the bank of england print $85 billion more? >> on a pound basis, $50 billion pounds. >> and the fed program will end in september. we'll see how much they can control the market. >> this was the driving force last week. you saw the dollar start to strengthen when people looked around and said, hey. maybe this was a stronger currency when you held that up relatively around the world. starting to affect the commodities and stock prices. >> dollar doing pretty well the last couple of days. one of the reasons oil is down today, normally you would have thought with the jobs numbers on friday, oil would trade up. but people are looking more at dollar weakness or dollar strength. that's why the oil markets were trading down this morning. >> a story in the "wall street journal" today about whether the dollar is poised to take off on a rally. they're pointing out that the dollar is starting to take off on fun
, a fairly mixed bag in asia and china. european stocks are stronger out of the gate. u.s. equity futures are pointing to a positive open at home. it is friday, august 28th, and "squawk box" begins right now. ♪ everybody's working for the weekend ♪ ♪ everybody wants a little romance ♪ ♪ everybody's going -- >> good morning, as mandy said. welcome to squawk here on cnbc. i'm carl quintanilla along with mandy, who has been spending the week with us. has it been worth your time? have you had fun? >> i had fun. i want to get up at 4:00 a.m. tomorrow morning, as well, carl. >> well, you're going to do this next week, in part, right? >> and you won't be here. >> we'll see how the vacations work out. >> okay. >> and our guest host this morning we think will add even more, tony craszenzi. and jim iuorio. weren't you just giving us the data 24 hours ago? >> yes, i was. >> i know you're still miking up, trying to give us a mild heart attack. the dell number res going to set the tone, we can. the xeertmaker, a 28 cents, nickel better than expected. revenue did drop, 22 cents. did beetle st
but i think we get to turn the stable today. we get to ask the questions today so that gives us a little bit of something to -- >> are you going to stonewall or do the -- >> i'm going to do this. oops. >> speak into the microphone. we can't hear you. >> this is as close as we'll probably going to being elected officials. >> well, in your case -- >> i'm surprised i could get in here. who am i, jude law? i'm surprised i could get in here, in fact. >> getting through security this morning, the guard didn't automatically seem to recognize me and joe, but we are already through the x-ray and the guard says, when is becky quick showing up? >> and then he said, don't you know who i am? which was -- you see, i've banned that from my vocabulary. >> they never do. anyway, we're here at a time when the markets have been -- what a date was yesterday where the s&p and the nasdaq, why it is these milestones tend to happen in tandem.gx >> these are very different gx indices. at the same time, you've got it moving above 2,000, above 9,200x for the dow, above 1,000 for the s&p. these are the hig
the program running until that time. phil lebeau will be joining us as 7:40 eastern time to give us the update at that point. >>> gm's board is expecteded to address the topic of opel later today. it could recommend a bid by canadian car mfer magna. we may be getting an answer. >> good morning, mike. >> good morning. >> it's easy to be a few minutes late on friday, right? >> yeah. >> that's all right. i came rushing in myself. joe is not here to give you a hard time. but thank you for joining us today. >> great to be here. it's friday in the summer. >> still a lot going on, though. the fdic reportedly plans next week to soften its restrictions on equity firms. officials are hammering out details of the final rule. the fdic is trying to walk a fine line, bringing more capital into the banking industry while trying to avoid putting banks in the hands of investors who might promote risky practices. we'll talk more about that later in the show. >> we will. mike, do you need more private money coming into these banks? >> any money, becky. i was astonished when sheila bair proposed to make stronger
't be a better day to have these gentlemen with us. of course, with the top stories this morning about ben bernanke, at 9:00 a.m. eastern, the president will make a public statement reappointing ben bernanke to a second term. bernanke, we think, will, in fact, join him for the event. according to the text of his remarks, he'll say the man next to me, ben bernanke, has led the fed through one of the worst financial crisis that this world has ever faced. bernanke dealt with the crisis in his words with full action and outside the box thinking that has helped put the breaks on an economic free fall. the president will defend bernanke's actions as steps of necessity, not choice, taking together all of these steps that brought our economy back from the brink. they are working. we have steve leisman, i believe, calling in from his vacation, steve. how much of a surprise is it to you, especially from the fact that it comes earlier than we expected sdmrp good morning, carl. i don't know how much of a surprise we're in. he said, you know what? it's august. there's no new information of real substan
and joe enjoy some well deserved time off. >> not together though. >> bob barbara will join us in an hour's time. you are going to take vacation, just not today. you feeling okay about this market? futures up again today. every chance we've had to second guess it, whether china last week or weak jobless claims or lackluster retail sales, data has been brushed off. >> you know, how much do you give to a market where you've taken the pressure off the table? i think you give a fair amount. feel forget in march and april, we were talking about the potential for the big "d." we can debate about the size of the recovery and what profit trajectory we'll get. that's a different kind of tw debate. the power of the move in the market. >> we were staring into the abyss. we've pulled back from there but already at 2009 highs. how much further can we push? how justified by the fundamentals you're seeing? >> if you look at the market now, it's about where it was in the middle of 2008. profits are probably 38% higher than in 1998. if you thought it was a baububb in '99/2000, from that perspecti perspect
, a number of states particularly hard hit with foreclosures. and the u.s. government reportedly forcing citigroup to seek outside help to grade the bank's management as "squawk box" begins rights now. >>> good morning, everybody, and welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and carl quintanilla. economic bellwether walmart is set to post quarterly results before the opening this morning. the retail giant is expected to earn 85 cents a share on nearly $130 billion revenue for the quarter. walmart has had strong performance and in his words would seize the moment to make even further strides with his business. but this is a more important number than usual. this is a huge bellwether for the entire retail industry, but we have not heard monthly sales reports from walmart. that leaves a few questions as to exactly what's happening. also on the docket we've got dr. pepper, snapple, auto desk and nordstrom. we'll hear about a lot of these consumer names today and try to get a feel for exactly what's happening with american shoppers. the thursdays every month
is on the phone. >> two days in a row. we don't do that a lot. >> bud told us yesterday that he had raised his nebs on home depot and bud, it hooks like you were right. what do you think of these numbers? >> well, if you look at thets them, they look pretty good, at least compared to what we were looking for and what the street was looking for. there is a bit of a regional impact here, as well. but we haven't seen depot outcomp lowe's since the late fourth quarter of '03. >> and so at this point, you expect to see shares up on this. but if these shares trade higher on this news, you would still tell people to be buying into home depot over lowe's? >> yeah. we think -- well, we like both, as you know, but we think depot has a little bit more improvement ahead of it. quite frankly, what's going on in the stores, i think i said that to you yesterday, i really like this equity. >> and if there's one thing that you really are going to be counting on, though, does it have to have a turn in the housing market before you see some stellar gains from these numbers or -- it won't even take that. it will
to senate lenders.s. as joe mentioned before, six senators will be joining us while they are still considering all of this. >> i think we are going to have to wear a jacket. senators generally do. you got a problem with that? i know it's summer. >> i packed a jacket. >> you too? >> yeah, i did. >> okay. >> we can do our short sleeves here. >>. >> garment bag down on the train. >> i've already packed. >> you're already packed? >> i'm on a 12:00 train. >> if eur there today and you see joe, hound him for autographs. >> cash for clunkers.. >> i have tens of dozens of fans literally. i should get a hair cut. >> get one on capitol hill. >> i've already made arrangements for one to clean up my act. did you see a picture of that room we're going to be in? >> yes. >> oh my word, it looks like th fake boardroom on the apprentice. >> really? with the fake fire? >> yeah. it makes me nervous. i'm going to feel like one of those bankers. >> all right, mr. blankenstein -- blankstein, blanken -- >> you're fired. >> in other headlines, top citigroup trader andrew hall has been pretszing the bank
they will give as to the shape. it's interesting what they tell us. >> i was very -- macaulay is here. two bs, the rest were c, did say and one guy even game president obama an e. >> is that between a d and an f? >> a d is a pass? >> a c is a pass. >> and i've had -- if you get a d, that's a pass. >> on a straight pass/fail, though, you haveget a c. >> no, i didn't. i took one course pass fail and i would have gotten a d if i hadn't. >> joe, if you want to aim low like that, go ahead. i don't aim low. >> steve, what's their biggest complaint with his handling of the economy? >> one guy said he overpromised. other guys say it's not really up to him and it's other people who are managing the economy and he's not really in charge. others says he's not engaged in the things he that matter for the economy suspect the. >> a "d" is -- >> becky got b in her whole life. >> tooven, the whether the last year was sun yee, right? >> yeah. >> so maybe you guys can get joet doors this week, if you know what i mean. >> we'll talk about that at 7:00. here is what i want to tell you. there are a bunch of rooms
Search Results 0 to 20 of about 21